Lear Co. (LEA) Shares Bought by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio increased its stake in shares of Lear Co. (NYSE:LEA) by 24.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,969 shares of the auto parts company’s stock after buying an additional 6,773 shares during the period. Public Employees Retirement System of Ohio owned about 0.05% of Lear worth $6,052,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LEA. Balyasny Asset Management LLC increased its holdings in Lear by 7,465.0% during the second quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock worth $101,754,000 after buying an additional 706,708 shares during the last quarter. Boston Partners increased its holdings in Lear by 138.6% during the third quarter. Boston Partners now owns 1,169,464 shares of the auto parts company’s stock worth $202,411,000 after buying an additional 679,345 shares during the last quarter. Koch Industries Inc. purchased a new stake in Lear during the second quarter worth about $485,000. Nordea Investment Management AB increased its holdings in Lear by 16,648.5% during the third quarter. Nordea Investment Management AB now owns 381,865 shares of the auto parts company’s stock worth $66,093,000 after buying an additional 379,585 shares during the last quarter. Finally, Capital Growth Management LP purchased a new stake in Lear during the third quarter worth about $27,693,000. Institutional investors and hedge funds own 91.60% of the company’s stock.
Lear Co. (LEA) opened at $177.69 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.09. Lear Co. has a 1 year low of $131.82 and a 1 year high of $181.46. The company has a market cap of $11,850.00, a P/E ratio of 10.86, a PEG ratio of 1.50 and a beta of 1.43.
Lear (NYSE:LEA) last released its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.16. Lear had a net margin of 6.17% and a return on equity of 31.60%. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the business earned $3.19 earnings per share. Lear’s revenue was up 10.1% compared to the same quarter last year. analysts predict that Lear Co. will post 16.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 8th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.00 annualized dividend and a yield of 1.13%. Lear’s payout ratio is presently 12.22%.
In related news, EVP Terrence B. Larkin sold 1,137 shares of Lear stock in a transaction on Monday, November 20th. The shares were sold at an average price of $177.74, for a total value of $202,090.38. Following the transaction, the executive vice president now directly owns 6,912 shares of the company’s stock, valued at $1,228,538.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan F. Foster sold 2,854 shares of Lear stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total transaction of $494,855.06. Following the completion of the transaction, the director now directly owns 7,761 shares in the company, valued at $1,345,679.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,787 shares of company stock valued at $839,429. 0.49% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on LEA shares. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Wednesday, October 18th. KeyCorp increased their target price on shares of Lear from $180.00 to $184.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Robert W. Baird reiterated a “buy” rating and set a $178.00 target price on shares of Lear in a research report on Friday, September 1st. Jefferies Group started coverage on shares of Lear in a research report on Thursday, September 28th. They set a “buy” rating and a $197.00 target price for the company. Finally, Cowen reiterated a “buy” rating and set a $196.00 target price on shares of Lear in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $173.13.
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Lear Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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